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News Now

Market
Poll: Most Consumers To Cut Back On Holiday Purchases
WASHINGTON (11/5/13)--The vast majority of consumers surveyed still plan on spending either less than they did last year or nothing at all this holiday season, according to a poll from the National Foundation for Credit Counseling.

Of the 1,400 people polled, 86% said they intend to either spend less or nothing. That compared with 87% of respondents in 2012, and with 91% of those queried in 2010 and 2011.

Eleven percent said they intend to spend the same amount as last year, and 3% said that they plan on spending more.

The NRCC launched the survey in 2010, about a year after the recession officially ended.

On Nov. 27, the Credit Union National Association and the Consumer Federation of America will release their 14th annual joint survey on consumer holiday spending expectations.

Last year, the CUNA/CFA survey showed that the percentage of consumers who said they would spend more than last year rose from 8% to 12%. The proportion of those who said they would spend less declined from 41% to 38%. The groups' survey was cited in news media around the world (News Now Nov. 26, 2012).


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